Small Finance Bank
Sebi returns draft papers of BVG India, Fincare Small Finance Bank
Markets regulator Sebi has returned the preliminary IPO papers of two companies -- BVG India and Fincare Small Finance Bank India. Integrated services company BVG India Ltd had filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in September 2021 to raise funds through an initial public offering (IPO). The firm's proposed IPO comprises fresh issue of equity shares worth up to Rs 200 crore and an offer-for-sale (OFS) of up to 71,96,214 shares by promoters and private equity investor 3i Group. In another update on Sebi's website, the markets watchdog has returned the draft papers of Fincare Small Finance Bank. Last year in August, the company had refiled its preliminary papers with markets regulator to raise funds through IPO as Sebi's one-year approval given to the lender to launch the issue expired in July. Under the rules, a firm gets one year to hit the primary market after receiving an approval from Sebi. In case a firm fails to
 "Sebi returns draft papers of BVG India, Fincare Small Finance Bank")
ESAF SFB refiling draft papers for IPO, will finish process by Dec
Issue size to smaller than earlier plan of Rs 998 crore, says company's CEO
 "ESAF SFB refiling draft papers for IPO, will finish process by Dec")
Bank of India launches special deposit scheme; raises interest on others
Apart from the special deposit scheme, Bank of India has raised interest rate on its existing 555-days fixed deposit scheme to 6.30 per cent
 "Bank of India launches special deposit scheme; raises interest on others")
'Brand Aamir' in the soup over ad controversy. Can he bounce back?
Actor facing flak for ad for AU Small Finance Bank; not new to controversy, which could affect brand value, say experts
 "'Brand Aamir' in the soup over ad controversy. Can he bounce back?")
RBI prescribes norms for small finance banks looking to deal in forex
Criteria for entering the forex business include profit in the preceding two years and net NPAs not being more than 6% in the previous four quarters
 "RBI prescribes norms for small finance banks looking to deal in forex")
Unity Small Finance Bank appoints Inderjit Camotra as MD and CEO
Unity Small Finance Bank is a new age, digital first bank which was recently elevated to a 'Scheduled Bank' and was included in the Second Schedule of the RBI Act.
 "Unity Small Finance Bank appoints Inderjit Camotra as MD and CEO")
Equitas SFB MD & CEO P N Vasudevan announces decision to leave bank
The executive who founded the lender will continue in his post till a successor is found.
On-tap licence: Sachin Bansal, five other applicants rejected by RBI
11 entities had applied for on-tap bank licences since the guidelines were released by the Reserve Bank of India
 "On-tap licence: Sachin Bansal, five other applicants rejected by RBI")
Equitas SFB gross advances up 15% to Rs 20,648 cr in FY22; deposits up 16%
Equitas Small Finance Bank (SFB) on Wednesday said its gross advances witnessed a 15 per cent year-on-year growth on a provisional basis to Rs 20,648 crore for the fiscal ended March 2022.
 "Equitas SFB gross advances up 15% to Rs 20,648 cr in FY22; deposits up 16%")
RBI approves Vinod Rai's appointment as independent chairman of Unity SFB
Apart from Rai, the SFB has appointed RBI veteran Sandip Ghose, former CMD of erstwhile Syndicate Bank Basant Seth, and former RBL Bank chief Subhash Kutte to its board
 "RBI approves Vinod Rai's appointment as independent chairman of Unity SFB")
PMC Bank merger with Unity Small Finance Bank awaits govt approval
The proposed merger of debt-ridden Punjab and Maharashtra Cooperative Bank with Unity Small Finance Bank is being examined and the process of amalgamation will start after the government approval
 "PMC Bank merger with Unity Small Finance Bank awaits govt approval")
Centrum-Bharatpe JV small finance bank to begin operations shortly
The first branch of Unity Small Finance Bank, joint venture between Centrum Group and Bharatpe, will be up and running shorty from city with Rs 1,500 cr growth capital and a Rs 1,300-cr loan book
 "Centrum-Bharatpe JV small finance bank to begin operations shortly")
RBI issues SFB licence to Centrum-BharatPe consortium
'Unity Small Finance Bank' will start with at least Rs 1,500-cr loan book, says Centrum
RBI receives two more applications for SFB licence
Cosmea Financial Holdings Pvt Ltd and Tally Solutions Pvt Ltd have applied to the RBI for an SFB licence
Equitas SFB Q1 profit dips 79% to Rs 12 cr over restructured accounts
Equitas Small Finance Bank (ESFB) on Friday reported 79 per cent fall in net profit at Rs 12 crore for June quarter 2021-22 on account of provisions for restructured accounts.
 "Equitas SFB Q1 profit dips 79% to Rs 12 cr over restructured accounts")
Borrowing cost up 1.2-1.5% for small finance cos despite liquidity: Crisil
The second Covid-19 wave has likely intensified the pressure points
 "Borrowing cost up 1.2-1.5% for small finance cos despite liquidity: Crisil")
Given nod to set up small finance bank to take over PMC Bank: RBI to HC
A senior advocate representing the RBI said this will ease the trouble faced by the bank's customers who are unable to withdraw their money
RBI has given us 120 days to operationalise SFB: Centrum's Jaspal Bindra
In an exclusive interview with Business Standard, Jaspal Bindra, executive chairman of Centrum group said it has committed Rs 1,800 cr capital to the SFB, Rs 900 cr of which will come in first year
 "RBI has given us 120 days to operationalise SFB: Centrum's Jaspal Bindra")
Four entities apply for universal bank, four others for SFB licence
Entity backed by Flipkart co-founder Sachin Bansal announced its intent for universal bank in Jan 2020
 "Four entities apply for universal bank, four others for SFB licence")
Suryoday SFB IPO elicits mixed reaction from analysts; here's why
Analysts covering the Suryoday SFB IPO share mixed views and are split between high valuations and good return ratios
 "Suryoday SFB IPO elicits mixed reaction from analysts; here's why")
